# Changes in Argentina should boost the country’s soymeal and soyoil exports

> SAFRAS & Mercado says Argentina's new government devalued the peso and changed exchange rate policy, making Argentine soymeal and soyoil cheaper on world markets. The analysts expect Argentine growers to sell stored beans, and the Chicago Board of Trade has already declined in response.

- Date: 2023-12-21 · published 2023-12-21T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/32788-changes-in-argentina-should-boost-the-country-s-soymeal-and-soyoil-exports
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A cheaper Argentine peso boosts Argentina's export competitiveness, pressuring soymeal and soyoil prices in Chicago and regional Brazilian premiums, and export tax cuts could add further downside.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2022-12-05 | [Lowered taxes to boost Argentine soyabean meal and oil exports](https://feedsoft.ai/events/13993-lowered-taxes-to-boost-argentine-soyabean-meal-and-oil-exports.md) | +9.8% | +13.7% |
| SBM | 2017-11-28 | [Soybean meal: lower export duties in Argentina](https://feedsoft.ai/events/67812-soybean-meal-lower-export-duties-in-argentina.md) | +2.5% | -3.6% |
| SBM | 2020-10-05 | [Argentina: Changes to the export tax applicable to soy and its derivatives (October 2020) - Global Trade Alert](https://feedsoft.ai/events/50482-argentina-changes-to-the-export-tax-applicable-to-soy-and-its-derivatives.md) | +3.9% | +8.4% |
| SBM | 2020-08-18 | [Argentina Mulls Cutting Export Tax for Soy Meal: Industry Group](https://feedsoft.ai/events/51434-argentina-mulls-cutting-export-tax-for-soy-meal-industry-group.md) | -3.1% | +5.4% |
| SBM | 2024-03-25 | [Argentina FX change, return of tax to spur exports \| Latest Market News](https://feedsoft.ai/events/13931-argentina-fx-change-return-of-tax-to-spur-exports-latest-market-news.md) | -2.4% | +1.0% |
| SBO | 2022-12-05 | [Lowered taxes to boost Argentine soyabean meal and oil exports](https://feedsoft.ai/events/13993-lowered-taxes-to-boost-argentine-soyabean-meal-and-oil-exports.md) | -6.1% | -9.6% |
| SBO | 2020-10-05 | [Argentina: Changes to the export tax applicable to soy and its derivatives (October 2020) - Global Trade Alert](https://feedsoft.ai/events/50482-argentina-changes-to-the-export-tax-applicable-to-soy-and-its-derivatives.md) | +6.9% | +5.2% |
| SBO | 2020-08-18 | [Argentina Mulls Cutting Export Tax for Soy Meal: Industry Group](https://feedsoft.ai/events/51434-argentina-mulls-cutting-export-tax-for-soy-meal-industry-group.md) | +1.2% | +8.9% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/changes-in-argentina-should-boost-the-countrys-soymeal-and-soyoil-exports/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.